Lotto Sport Italia has sold Etonic Worldwide brand to Etonic Holdings, LLC, a venture partnered by the Weisfeld Group and Anthony L&S Footwear. Terms were not disclosed.

The acquiring entity, Etonic Holdings, LLC, has purchased the Etonic
brand and intellectual property. Through an increased focus on product
design and licensing relationships, the new owners plan to leverage
existing manufacturing capabilities and retail relationships to expand
distribution, enhance the international sales footprint and enter
additional product categories.

Bruce Weisfeld, President of the
Weisfeld Group, commented, “We are extremely excited about our
acquisition of the worldwide rights to the Etonic Brand. Etonic is truly
an authentic American athletic company with products ranging from golf
and running to bowling. We plan to restore and reinvigorate Etonic and
return the brand to its rightful place among the best athletic companies
in the world. Since 1876 Etonic has led the sporting goods industry
with many firsts including the first golf specific shoe and the first
“Gore-Tex” waterproof golf shoe. Etonic is also responsible for having
developed a line of running shoes that actually prevented injury. We
plan on continuing the Etonic tradition of “firsts” by bringing to
market many new developments in each category in the months and years to
come. We are confident that this strategy, combined with increased
market awareness through endorsements, sponsorships and marketing, will
re-establish Etonic as a leading American heritage sporting goods
supplier.”

Founded in 1876 and re-branded as Etonic in 1976, Etonic has an
established brand heritage in the golf, running, and bowling footwear
categories. Long recognized as a leader in product performance and
innovation, Etonic achieved its broadest distribution in the mid-1990’s,
reaching over $100M in revenue and sponsoring several of the biggest
names in sports. Known by industry consumers for its “First One There”
motto, Etonic developed the first golf shoe with Gore-Tex and also
introduced Dynamic Reaction Plate sole technology to the running market.
Under Lotto Sport Italia ownership beginning in 2006, Etonic continued
to develop new ways to help athletes feel and perform better, most
recently launching breakthrough Stabilizer and PowerFlex technologies.

The Weisfeld Group currently manages, licenses and owns principal stakes
in a stable of worldwide brands including METROPARK, COOGI, Under Two
Flags, FUBU, Crown Holder, FB Legacy, DRUNKNMUNKY, Heatherette and
Willie Esco. As one of America’s premier footwear companies, Anthony
L&S sources, markets, and distributes a broad range of footwear
including men’s, women’s, and children’s sneakers and boots. They
currently manage a portfolio of more than 10 owned, licensed and
exclusively distributed premium footwear brands including G Star,
Levi’s, U.S. Polo Assn., Mountain Gear, Adio, Phat Farm and FUBU.

Meridian Capital LLC , a founding partner of Global M&A, served as Lotto’s exclusive financial and strategic advisor on the transaction, with Lapointe Rosenstein Marchand Melançon LLP (LRMM) serving as legal counsel.

“We are proud of the time spent developing the Etonic business. We gained significant experience in new market segments and developed strong ties in North America. When we decided to pursue the divestment, we looked for dynamic and knowledgeable advisors to help facilitate an orderly exit process. Meridian Capital and LRMM were excellent partners, proving to be very well prepared, flexible, experienced and always available to address the challenges of a cross border transaction” said Andrea Tomat, Chief Executive Officer of Lotto.